Wall Street firms are increasingly turning to Ethereum for tokenization, with JPMorgan, BlackRock, and Fidelity all launching money market funds on the blockchain. The total market for U.S. money market funds exceeds $7.5 trillion, with Ethereum being chosen for its decentralization and regulatory familiarity.

Ethereum’s dominance in tokenization is evident as major asset managers opt for its platform over others. While some companies remain blockchain-agnostic, Ethereum hosts a majority of tokenized U.S. Treasury products and regulated stablecoins. This trend is driven by the network effect and Ethereum’s liquidity and compliance advantages.

Despite Ethereum’s popularity, other blockchains like Figure Technologies’ Provenance and Polygon are making strides in the tokenization space. While JPMorgan issued assets on Ethereum, it has also utilized its own platform. The market is still exploring various blockchain options for tokenization beyond Ethereum.

The Securities and Exchange Commission (SEC) recently approved the Depositary Trust and Clearing Company (DTCC) to pilot a framework for securities tokenization. With exchanges like Nasdaq gearing up to list tokenized stocks, the DTCC’s standards will play a crucial role in determining the integration of blockchains into America’s market infrastructure. Euroclear is also involved in similar projects in Europe.

Read more at finance.yahoo.com: Ethereum Leads Wall Street Tokenization Race as Mass Adoption Looms